AlphaMundi Group facilitated an investment of USD 1 Million in equity and USD 2.5 Million in debt into Kenyan start-up company Twiga Foods in the second half of the year. The investment has been done through SAIF Bastion Fund and AlphaMundi's network. The funds will be used to support working capital and business expansion with the aim to become Africa’s largest fresh fruit and vegetables distributor.
“We plan to move our daily customers from 6,000 a week to 4,000 a day in the next 18 months, and the total products we stock from 6 to 17,”says Mr. Brooke, Co-founder and CEO Twiga Foods.
Twiga Foods continues to seek new partners that will help them expand their distribution footprint in an efficient and cost-effective manner. Peter Njonjo, a co-founder of Twiga Foods believes that with the help of new partners along with the support of their current stakeholders, the company will be able to build better marketplaces for Kenya and eventually expand to more urban areas across Africa.
About AlphaMundi Group Ltd
AlphaMundi Group is an impact fund manager that provides debt and equity financing to scalable social ventures in strategic sustainable human development sectors such as microfinance, affordable education, fair trade agriculture and renewable energy. AlphaMundi is currently investing out of its impact debt fund, SocialAlpha Investment Fund (SAIF) - Bastion, domiciled in Luxembourg. AlphaMundi also manages co-investments for SAIF-Bastion investors and third parties.
About Twiga Foods
Twiga Foods is an app-enabled, business-to-business (B2B) m-commerce and last-mile distribution platform for small and medium sized vendors in African urban markets. Twiga enables these vendors to order their products at a lower price via their phones, pay with M-PESA, and receive their merchandise without ever needing to leave their kiosks.
For more information, visit www.alphamundi.ch
AlphaMundi Group Ltd